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Newsweek Layoffs: The Hatchet Has Fallen

We’re keeping an ear to the ground where today’s Newsweek layoffs are concerned. So far, Business Insider has heard that staffers were laid off early this afternoon via email. Some long-time veterans of the struggling news weekly were rumored to have been told that they “not be offered jobs” once Sidney Harman takes over on October 1.

The majority of the magazine’s staffers are said to remain, and “generous” severance packages will be extended to those who were asked to leave.